_____ releases the partner from liability for having exceeded his/her authority and binds the partnership to the contract as if it had been authorized all along.

Question

Quizplus · Accepted Answer

Generally,the partnership will not be liable for contracts created by a partner acting outside the scope of her authority.An exception to this rule arises when the other partners ratify the unauthorized action.Ratification releases the partner from liability for having exceeded her authority and binds the partnership to the contract as if it had been authorized all along.

_____ Releases the Partner from Liability for Having Exceeded His/her